The market action remains akin to scraping fingernails across a chalkboard. Impossible to make any progress with a diversified portfolio, unless you are flying in and our of trades with under 24 hour duration.
EnerNOC (ENOC) encountered a failed breakout after 3 days of teasing- we added a big tranche on the potential breakout, and suffered a minor loss as the stock falls back below $28.50 - our stop loss was triggered and we're back to a holding position. If it gets back over $28.50, we'll try again.
Discover Financial Services (DFS) earnings report was looked upon much more poorly by the Street, than my interpretation. It fell quite a bit yesterday but still held support until the end of day swoon by the entire market; today it followed up with more downside. The stock now looks more attractive as a near term short than long - especially after a cursory dead cat bounce. I've closed the position due to the fact we've added a few new names of late and I want to focus on a manageable amount of stocks. No real losses here as we are selling near our cost basis. What we lost were a bunch of unrealized gains from the last few months.
Long EnerNOC in fund; no personal position